referral - Blog - REO Pro Network

Apprenticeship, Experience and Referral Ok, here it is, the secret each of you have been waiting for. I am going to tell you what it takes to become a REO Agent. Now, for some of you, this information is going to sweep over you like a tsunami while others are going to rise and surf it directly to your first REO listing. The first concept I want to talk about is the “Apprenticeship”. Now, before I start, let me say that I don’t expect each of you to go and work for free for some over ego’d REO Agent but, I am expressing an idea that to become a REO Agent, you might first have to pay your dues and learn from the best. So, what specifically do I mean by Apprenticeship. As a new REO Agent, you need to learn from someone who already knows. Now, yes, we have all kinds of “REO Certifications, Designations” and, the like but, the industry has no accepted standard certification! Let me say that again, THE INDUSTRY HAS NO ACCEPTED STANDARD CERTIFICATION! My point is, just like in the dark ages, to become an iron smith, you went and worked for one in exchange for his knowledge. This wasn’t because that was simply the way it was done. It was done this was because no one had set down, wrote a book and said, this is how you become an Iron Smith. So, in many ways, the default real estate industry is much like the dark ages, in that we DON’T HAVE A INDUSTRY STANDARD EDUCATION, when it comes to how to be a REO Agent. So, the next best thing is to learn from someone who is already doing it. This means, you need to seek out a successful REO Agent and, work out an agreement where you can co-list a couple of properties. I don’t want to hear anyone moan and groan about how they don’t know anyone or how they don’t get along with other agents or any other, “I am just a looser” self defeatist Bull Sh!t because, I just don’t really care that much. Actually I do care but, I have more pressing problems on my own to worry about yours. Experience…..oh, this is key! You can have all the education both formal and apprentice education but, if your teacher never trusted you to list a property on your own or make a horse shoe by yourself……then ultimately no one is going to care who you studied under. You…yes, you, have to gain the trust of your teacher, through your knowledge and understanding, that will give them the confidence to co-list with you or let you do one on your own. This, of course, is all about being a good student and learning as much as you can! Once again, I don’t want to hear you complain about how you don’t know anyone or can’t get Mr. Super REO Agent to work with you….not really my problem. If you really want to break into this industry, then you will make it work somehow. By the way, if you can’t make it work, I am not sure you really deserve to be in this business. Just my opinion. Now come the Referral, this is what you worked so hard for. Once you have proven you can do it, both with your education and experience, then your teacher should be able to provide the Referral. A good teacher (REO Agent) will shop you out to several Asset Managers they have working relationships with. Ok, so, go find you a “teacher”, get a solid formal education like, RealEstateEducate.com or Five Star. Prove you can do it and co-list with another REO Agent, EARN their trust and ask for the referral Now, all of this is just a suggestion but, it’s an idea that maybe you haven’t thought about. If you want another prospective, check out my blog, “How to start doing your first REO” Good luck and let those questions rip…I am ready.

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Out of Area REO Agents

Apprenticeship, Experience and Referral

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